new generation cryptocurrency asset managementtechnology is. blockchain’s potential is blooming...
TRANSCRIPT
New generation cryptocurrency asset management
I. Disclaimer The purpose of this White Paper is to introduce DARB platform to prospective investors in connection with the upcoming Token distribution. Set of information forth in this White Paper may not be exhaustive and does not imply any elements of a contractual relationship. It aims at providing the relevant and effective piece of information to potential token holders with the intent to help them decide whether or when to trade to receive DARB tokens. The content of this White Paper is not binding for DARB (“the Company”); furthermore, the Company reserves its right to adjust, add or remove sections and content within the White Paper for any reason and at any time before, during and after the sale of DARB tokens by posting the amended White Paper on the website. This paper should not be considered an investment solicitation and it is not composed in accordance with, nor is it subject to, laws or regulations of any jurisdiction which are designed to protect the investors. Moreover, this White Paper does not constitute any investment, legal, tax, regulatory, accounting or other advice, and it does not aim at being considered the sole base to any evaluation of a transaction regarding a prospective acquisition of the DARB tokens. Prior to acquiring the DARB tokens, the prospective client should consult his or her own legal, investment, tax, accounting, and other advisors to evaluate the potential benefits, burdens and other consequences of such investment. The DARB token is a utility token, and not a digital currency, security, commodity, or any other kind of financial instrument. The DARB tokens are not intended for sale or use in any jurisdiction where the sale or use of digital tokens may be prohibited by the laws governing the respective jurisdiction. Also, the DARB tokens will not be sold or distributed, or otherwise resold by their holders to citizens of, natural or legal persons with their residence or place of incorporation in any country or territory where deals with digital tokens are prohibited or in any manner restricted by the applicable laws or regulations of that jurisdiction. If such purchases were made, a the person responsible shall bear the risks and negative consequences for acting in an unauthorized or fraudulent manner. The Company reserves its right to refuse or cancel DARB token purchase requests at any time at our discretion when the information provided by the client in the KYC (Know Your Client) procedure is not detailed enough, inaccurate or misleading. The company does not carry any business activities, nor does it offer or distribute DARB tokens in any countries or territories where there are restrictive laws or regulations, or the Company must be registered or licensed with any applicable governmental authorities in respect to transactions with digital tokens. Each prospective holder of DARB tokens is reminded that this White Paper is presented to him/her on the basis that he/she is the person entitled to make investments. Moreover, it is prospective token holders that bear the ultimate responsibility to determine if he/she can legally purchase the DARB tokens in his/her jurisdiction and whether the prospective token holder can then resell the DARB tokens to another person in any given jurisdiction. Certain statements, forecasts and financial information included in this White Paper represent forward-looking statements. The White Paper is conducted in the English language and this version is to remain the primary official source of information about the project. The information contained in the English version will be translated into other languages, and it may happen that in the course of the translation process some of the information contained in the English language version may be lost, corrupted or misinterpreted. The accuracy of such alternative versions cannot be guaranteed. In case of any conflict or inconsistencies between the translations in other languages
2
and the official English language version, the provisions and statements of the English language original document shall prevail.
II. Dedication This project owes its existence to the many people who have been supportive through the full lifecycle of what we already did and hopefully will be with us for the rest of the road. We would like to thank for all the efforts made to complete the ecosystem analysis and insights into the product you have shared throughouts of brainstorming. Thanks to all the contributors and reviewers.
III. Abstract This Bizzaria Limited, a blockchain innovation company headquartered in St. Julian's, Malta, Tallinn and Warsaw, Poland, is ready to embark on one of the most crucial decentralized projects to drastically speed up blockchain and cryptocurrency adoption and greatly enhance user experience: Darb. The project goal was to equip users with a platform, that is an easy gateway to a crypto-world. Accessible for businesses, professional traders, tech-people and, most of all, ordinary people lacking admission to crypto assets world. Darb is a platform powered by its own native token that will help people embrace and adopt blockchain market with stable, scalable and trusted exchange and a multi-currency wallet! The Darb is your personal interface of a blockchain world. Here are the key points of what we have done so far and what we are going to do:
● completed crypto-fiat exchange, Darb Finance ● a multichain wallet for cryptocurrencies and tokens, which is going to
revolutionize businesses and at the same time allows you to cover daily shopping by crypto payments. Everything is possible by merging FIAT and the crypto-asset world;
● portfolio management and portfolio follower programme; ● social trading; ● monitoring of social media trends and crypto-news; ● physical crypto-fiat terminal to merge both worlds;
This paper describes our project of providing an amazing platform to manage assets, delivered in a user-friendly way and based on a cutting-edge technology of blockchain. Discover new possibilities and seize the opportunities that are arising in this disruptive branch of technology. We plan to implement the project in four phases: Phase 1 - completed: Providing a secure and stable cryptocurrency exchange with support to FIAT. Phase 2: Proof of trade implementation.
3
Phase 3: Building mobile DARB multichain gateway that covers wallet, portfolio management and assets exchange and integrating it into many systems. Phase 4: Releasing crypto & fiat physical payment terminal At Bizzaria we think outside the box. We are not asking our supporters for money. We ask them to join us in our journey of building the biggest blockchain hub that will benefit us all. We are a community grassroots of people working for the mass adoption of the blockchain-based assets.
IV. Understanding the Market Our main goal is to provide stable, intuitive and professional platform that will be the gateway into the blockchain world for people across the world. We are going after a much larger market than the “native crypto” - people who want to use smart contracts everyday or technology early adopters. Our target market consists of all the people who have ever heard of cryptocurrencies and blockchain, but had not effectively tried it or failed to benefit from it, as they could not find the way in all the buzz and great amount of information required to making the first step. This means adapting this technology to all type of businesses for sake of speeding the payments up, voting or even tax optimization. While the first group will take their time and dive into the meanders of how to calculate a right fee for transfer, download, compile and run nodes and wallets from GIT and check the MD hash to validate if it’s right, the latter will not. All because of the enormous learning curve to even start with.
Early Adopters Early Majority Upcoming wave
Geeks Crypto-nerds, digital nomads, anarchists, willing to test every new solution and searching freedom.
Alternative payments methods (like paypal,XE,Hi-FX, CurrencyFair, WU), people who noticed that old systems are obsolete and are looking for better one, Uber users
Business,real estates, logistics (delivery goods, orders, supplies, couriers, auction houses etc) services, rental business.People searching for good and tested products to implement in business and enhance the quality of services.
The group responsible for mass adoption.
Familiarity with blockchain
Yes heard about few project
as for now, blockchain = bitcoin
We address all of the groups.
Current banking systems are over-engineered, with a poor unintuitive design. Each time you log onto your bank account, it feels like the time travel might be even a
4
thing when it comes to how it looks and works. While all new service providers, like Uber, allows us to disrupt reality with a single finger tap, we still have to live in a stone age when it comes to fintech. It doesn't have to be that way anymore!
V. Problems Having such an amazing technology comes with a price. The current “state of art” in blockchain and cryptocurrency world is as follows: There are technologies and ecosystems with great possibilities and enormous potential. Cryptocurrency and Blockchains are driving the digital transformation of the world, towards reliable and trusted cashless economy. A Blockchain platform does not only provides reliable information control, but it also assures quick and accurate transactions. An exchange is likely to be the very first step into the world of cryptocurrency for a consumer. We all witness how disruptive this branch of technology is. Blockchain’s potential is blooming and new possibilities are being discovered. However, no progress is possible without the acceptance of ordinary people. Currently, the blockchain world is all about geeks and tech-specialists, in other words, people who live off technology or have deep a understanding of it. Solutions introduced so far are being developed for a specialized, small group of people, who do not mind playing CLI or compiling sources. That is why the cryptocurrency world suffers from lack of accessible interface. We are going to be that interface. We want to set the standards for the new products that are released in crypto-based industry and allow mass adoption of them. You can compare us to the first Windows operating system - moving from the console world to a simple, yet clean, interface. Most people around the world do not pay much attention to how the compiler works, how high is the fee that will ensure their transaction is being mined in an upcoming block. They also do not care, what fee they should set in order to make sure that the transfer will actually take place, rather than disappear within the blockchain.They often void to start the exhaustive procedure of getting the lost funds back. What they do care about is, whether they can send an ETH transfer to their business partner at another part of the world without 3 days waiting for a bank confirmation, or if they are able to pay with the crypto-assets at the grocery store near-by with just one click or with a biometric scan of their fingerprint (like with Apple Pay, Android Pay). Simplicity is on the very top of the cutting edge advanced technology, stability and trustworthiness - exactly what the customer needs. It is not about the way it works, but about the fact, it is not very user-friendly. Things just have to work and we do not need to know how they work under the hood (compare to the card payment process ). Even though we are all in DARB 1
tech-enthusiasts, who are passionate about the process, we are also aware of the importance of user's experience, and the fact it is the aspect that does not actually exist in the crypto world. How can we expect mass adoption of the blockchain-based services, if what we have, right now either looks like during first attempts of a graphical user interface (GUI)
1 How it works
5
introduction, or is only a screenshot of a landing page at the moment? Furthermore, the blockchain world is desperately dedicated to volatiles Ockham razor and spawns a new entity every time it takes a breath. It’s not wrong per se, what’s wrong is lack of standards and unification. Unification is required - mass adoption won’t occur if people have to first compile, then install and finally synchronize numbers of blockchains, just to be able to manage their own assets. On top of that, great number of services is developed by enthusiasts rather than professionals, which is resulting in the following list of problems:
○ Exchanges ■ Poor technical architecture of the exchanges
There is a great number of exchanges with enormous problems with stability (lack of scalability) that end up with downtimes during “rush hours” because of poor technical architecture. Many exchanges are written in slow or obsolete technologies just because people used to know them when they started. They are put together and prepared to handle a few active users and problems arise when the traffic grows. Most exchanges’ owners do not even bother with security and efficiency. In addition, most of the exchanges from top100 CoinMarketCap are based on white-label engines ported from FOREX or other exchanges, which are not ready for the amount of transactions and the level of availability that is required in a new, blockchain-disrupted world. Some of those exchanges even share this information on their ICO page!
■ Insecure platforms Having in mind the above point, no wonder that last year over 2 billion dollars worth assets were stolen. It is easy to understand when everyone have access to the source code of the platform. They all are able to find vulnerabilities and hack it. What is worse, the same hack can be then applied to any other exchange on same engine! That is how it ends when billion dollar values market is based on a few white-label engines that are prepared for 8 am- 10 pm trading session instead of global 24/7 trading option.
■ Customer Service Understanding users’ problems is vital for running a successful exchange. Money is literally in the line. Many exchanges, service traders as if they were chatting on Facebook. A 3-second delay in response would hardly be noticed, but on the exchange the same would be unacceptable, resulting in a torrent of users’ complaints.
○ Wallet ■ Heavy
Most wallets are heavy. Some of them require downloading the whole blockchain to start. A lot of them including Ethereum and Bitcoin have an issue with synchronization and even if the installation succeeds, it
6
might take days to finish.
■ Synchronization issues All these hours of waiting just to get an error of synchronization at 98% of the process. What if you want to use another blockchain or invest in another technology? You have to start over. We won’t even mention the amount of storage required to synchronize and keep updating all those wallets.
■ Supports only one blockchain You are waiting for hours to get your wallet online and ready-to-use. Those are hours of your time and time is money! You decide to go for it, but at the end of the day, it’s a good practice to diversify and manage a portfolio of your investments, not only focus on this “one and only”. This means that you have to start over for each and every blockchain you want to use.
○ Poor language support Blockchains have no borders. Most services focus only on one language or one country as they were built only for this region.
○ Learning curve There are a lot of great businesses and technologies around the world. A great deal of them exist but can’t find their target market. In the end, they are going to waste because no one took an extra step to introduce them to the audience - how to work with it and how it can help. Considering coins, a lot of them have a great model but people have enough of compiling/installing “one more” application on their own. In case of exchanges, they provide a platform but don’t educate about good practices, which is a huge mistake.
VI. The Solution There is a lot that prevents this great potential to fully bloom. In the blockchain industry, we are running so fast that we are more on our knees than on foot. We do not have time to think if what we do is what we should actually aim for. Time to provide the new baseline to services that are usable by everyone. Time to set standards for quality of services provided in blockchain world. Time to disrupt and introduce people around the world the potential of the technology, project, and ecosystem for better tomorrow. The idea is to create a global, multilingual ecosystem that will explain how cryptocurrencies, blockchains and new great projects work for the masses. For users interested in specific asset or piece of technology, we are providing the trading platform with separate views adjusted, specifically for advanced daily traders and people who’s journey just started. After trading, to secure your assets and make it available within a hand's reach, we
7
will provide multi-asset wallet and debit card, that can be linked to any FIAT or cryptocurrency available in the wallet. We will provide the possibility to check your progress by creating a portfolio and monitor the value of the assets you own, in order to check if our strategy is effective and functional. If you’re already mastered trading arts and want to share your knowledge and trading moves over the markets, you can share your portfolio moves and collect fees from users who seek guidance. If you are the most successful person in the room, you are simply in a wrong room - therefore you might want to check out portfolio rating and subscribe to best of traders to learn how to work on your portfolio and earn more.
All wrapped up in one platform with simple yet elegant, and beautiful design, while under the hood you will find the scalable system that can handle millions of users, streaming real-time data without any issues, even during rush hours. Available in your browser and in your pocket - as the mobile app.
Darb Platform is an ecosystem that addresses the most troubling issues which are crucial to the mass adoption of blockchain based ecosystems and technologies.
○ Exchange - Darb Finance Already available platform, the cornerstone of further services and applications.
■ The architecture of the exchange Exchange systems need to be engineered from the ground up with security, stability, speed, and scalability in mind. This approach is always a challenge because the architecture of such an application has to handle millions of transactions in seconds. At such level, there are limitations in technologies per se, that has to be overcome by specific designs and patterns that will allow real-time data processing with the amounts that not even VISA, Mastercard or any bank have to handle (their limitation is around 65 000 transaction per second). Our team has been gaining experience and maintaining world-class financial systems that shape the economy up for decades. We understand systems architecture from the ground up. In addition, we have the great experience with new technologies and we are aware of how they work over the product's full life cycle. Thanks to our experience we are capable of building most advanced crypto-platform as of date. Darb Finance is build on multi-cluster system architecture that functions on a multi-tier platform, providing high-end security to every single transaction made.
■ Matching engine Our matching engine is capable of sustaining 3,700 orders / second, making Darb Finance one of the fastest exchanges on the market today. You can be certain, that your orders will never be stuck due to the matching engine overload. We do not use any white-label engine
8
nor we use open source solution, which can be hacker attack vectors. Our solution is custom-made, well tested and audited by security companies. Because of that, we can provide the best possible speed and stability as every feature was well-thought as a part of the whole, not built one on top of another, which results in a slow monolith.
■ Security Darb Finance is built to high standards, audited, and penetration tested. Last updates about security are always available at https://base.darbfinance.com/security. At the time this White Paper was created, F-secure performed the latest report. Sadly, security is not something that once granted will be provided. That’s why we are ordering periodically pentest both from international corporations and 2
smaller, more geeky companies, as we have noticed that their vectors of attack usually differs a lot. We have experience in building financial systems to the highest security standards and strive to ensure security first. We provide a high level of isolation between our services and granular access permissions for each of our app. In addition, the platform provides:
● 2FA to ensure highest possible security on a user side, ● reCAPTCHA ● Confirmation to verified e-mail address ● Same browser login ● New device login confirmation ● All ever logged devices along with the IP and details that allows
tracking connected devices with the possibility of blocking them.
● Anti-phishing codes that allow distinguishing phishing attempts from official Darb Finance mailing.
On the Platform Level Encrypting, every data happens at two levels, firstly, at the database level and secondly at the API level. The User’s crypto balance is kept in a highly secure cold wallet.
■ Liquidity Due to the lack of liquidity in the crypto markets, it becomes difficult for traders and users to exit at the right price. The traders face a lot of difficulties when a low order book results in high slippage while trading. Bringing miners, institutional investors and pro-traders into a new exchange is a chicken and egg problem and requires a team with deep industry resources. We have partners in mining companies, OTC partners and liquidity providing companies. These partners play a key 3
2 Security 3 Over-the-counter (OTC) is a security traded in some context other than on a formal exchange such as the New York Stock Exchange (NYSE), Toronto Stock Exchange or the NYSE MKT, formerly known as the American Stock Exchange (AMEX). The phrase "over-the-counter" can be used to refer to stocks that trade via a dealer network as opposed to on a centralized exchange. It also refers to debt securities and other financial instruments, such as derivatives, which are traded through a dealer network.
9
role in the further development of the exchange.
■ Low Fees Darb Finance is the cheapest exchange on the market, so far. - 0.05% for Makers - 0.2% for Takers
■ Demo account For users who want to try it dry first, we also have the solution. Create account on Darb, pass KYC process and get first $50 for free! Trade it and learn best practices with our tutorial. It’s safe, it’s the real market, it’s your time to try trading without any stress.
■ Multiple cryptocurrencies The blockchain market is enormous, therefore we provide a wide spectrum of available assets. Every month, users will choose new cryptocurrencies they wish to see on exchange and those assets will appear.
■ New best promising assets available It is hard to get a new promising asset at its early stage. The reason for that is that exchanges have big listing fees that stop new project from getting their audience. DARB is more agile and progressive. We will list new promising assets which didn’t get their momentum yet and list them free of charge. Do not hesitate to contact us at [email protected], if interested.
■ Darb Accelerator - IEO Marketplace We firmly believe that blockchain projects are the future. The amount of newly created ecosystems is increasing on daily basis. We want to help young projects with their start and help them get to the bigger audience. Therefore we provide IEO platform that solves issues with websites going down due to the excessive number of entries. We are happy to share our remarks and guidelines with new teams throughout the process of preparing a smart contract (in ERC20 and more secure ERC223 standard), ecosystems, designs and legal. 4
■ FIAT-CRYPTO trades
Blockchain and cryptocurrencies are the future. But until future comes to us with all the possibilities, we want to provide the fluent connection
4ERC20 token standard suffers critical problems, that caused loss of approximately $3,000,000 at the moment (31 Dec, 2017). The main and the most important is lack of event handling mechanism of ERC20 standard. ERC223 is a superset of the ERC20 token standard. It is a step forward towards economic abstraction at the application/contract level allowing the use of tokens as first class value transfer assets in smart contract development. It is also a more safe standard as it doesn't allow token transfers to contracts that don't support token receiving and handling.
10
between two worlds - upcoming tokenization and current FIAT markets. Interpenetration of both markets will allow us to reach a wider group of users and present the advantages of cryptocurrencies. Therefore, we are supporting currencies like EUR and will list USD, KRW and CNY shortly.
■ Spot Trading Darb Finance provides space for immediate purchase and sale of cryptocurrency once spotted to be favourable for the user to either sell or buy. This is one of the least complicated order types and has no control over the price received. In other conditions of less immediacy, the user can use a limit order type. This will allow the trade user to have control over the price at which the trade takes place, thereby giving the user an edge to sell or buy the cryptocurrency at no less, than a specific price. Starting from regular calls, going through stop-calls and finishing at instant calls. That is just a start. We are going to implement fill or kill and percentage trailing orders in the future . 5
■ Margin Trading
Darb Finance opens a gateway for lenders and traders to get the maximum out of the trading process. It allows a user to open a position with up to 2x to 5x leverage. The lending amount is provided in two ways: either the borrower places the amount of fund needed with the duration and rate of one’s choice or lets the Darb Finance system take out funds for the user at the most efficient rate, at that opportune time once the user opens a position for trade. On the other side, there is a Lender, who can lend the assets to the borrower at specific rate and for the certain time. In case of any risk on lender site, our automated system will revert the order.
■ Converting small amounts to ETH Have you ever had a problem with fractional cryptocurrency value? Usually it is impossible to trade crypto dust due to the fact that the amount is lower than the transaction fees and sits idle in user’s wallets, hence, the term “crypto dust.” DARB platform users will be able to convert crypto dust that is equivalent to less than 0.001 BTC into Ethereum.
■ Base and Pro View We believe everyone is different and to help mass adoption we have prepared three types of view for the users:
5 As it goes for the fill/kill - the order must be filled in its entirety or canceled // A trailing stop is a stop order that can be set at a defined percentage away from a security's current market price. An investor places a trailing stop for a long position below the security’s current market price; for a short position, they set it above the current price.
11
● Base View the view with a minimal amount of details and figures. Great option to start with cryptocurrency or makeing quick actions on a clean look. If you would decide to see more, just click on the buttons to see the details and dive into advanced features.
● Pro View If you already know the drill, this is the place for you. Everything on one screen without scrolls and in dark mode by default to keep your eyes rest. Professional trading terminal.
○ Wallet Substantially, a wallet is a software that holds the private keys to the assets sitting on a blockchain. A user transact by “signing” orders. The DARB wallet will hold keys and let transact with many blockchains, and it will eventually be the control panel to be used to interact with the digital asset world. The client holds private keys to his/her cryptocurrency (bitcoin, ether, etc.) and uses cryptocurrencies or digital tokens to “pay as you go,” for the service using micropayments. The service may never know who you are. This is what the Brave browser will do. This is how people will pay for services in the future. You can think of tokens as tradable virtual assets that hold value. To secure your asset, the application will provide a honey pot account. It means that user has the possibility to set up a second account with different password (or finger to unlock this wallet), so in case someone will force you to open the wallet, you can always open the honeypot account and make operations with a dummy wallet that acts as regular one. We expect to partner with several exchanges. In fact, we want DARB users to put their buy/sell orders into our API and let exchanges compete for their business. This solve the liquidity problem. Any order can now be filled from any exchange that participates in the network. This allows us to create DARB Token which is metatoken and the type of exchange which is a meta-exchange. The internet of smart contracts is an internet of offers. Our wallet will find and interact with smart contracts. Everything will tie into the wallet, and we’ll use fewer and fewer apps.
■ Light DARB wallet is light. You can download it and open account in seconds to interact with a universe of possibilities that just opened for you. Everything available on the web and mobile application.
■ Always synchronized It’s time to forget about synchronizing wallets for each and every of your assets, leaving your PC or notebook run all night just to be able to transfer the coins or tokens. With DARB wallet, you have everything ready to use from the first time you open the application.
12
■ Supports multiple blockchains and ERC20 tokens Let’s assume your portfolio consists of 5 different assets. Now you can manage all 5 assets directly through one application. This means 4 application less you have to download, compile and install. This also means 5x time savings in time consumed by setting up the wallets as you have everything ready to work just by opening DARB wallet. Now think how much time and energy you will save if you have for example 10 assets in the portfolio. By using DARB wallet you will be able to manage assets available on Darb Finance and more.
■ Smart contract control center The DARB Wallet will show all your obligations, escrow, assets, and is tied to your calendar, balance sheet, and other parts to give you a complete smart-contract management system. In all cases, you own and control your own assets - no one else has access to them.
■ Debit Card Cryptocurrencies are great but because of the lack of mass adoption, you cannot use it in daily life yet. We want to meet your needs so while you will use DARB wallet, you can also order debit card that can be associated with any wallet available in the application. This will allow you to use cryptocurrencies on daily basis, buying in the grocery store, making Amazon shopping or paying for dinner in a restaurant. If connected digital currency won’t be at the best rate, the application will notify you by sending a PUSH notification and propose a better option for payment. You will be able to change the currency seconds before the transaction will take place. This is the first step to mass adoption. Only if you can finally use your digital assets everywhere, we can make next step towards leaving the regular banking systems by the adoption of crypto-based terminals (that allows to pay with FIAT and crypto) we are working on and that will be introduced in 2020.
■ Payment with finger Debit cards help with using digital assets everywhere, but why not take it one step further and use Apple Pay and Android Pay to make a transaction with just palm of your finger. Usability at it’s best!
■ Send money to family, friends or business partner. If they’re not using the DARB wallet you will be able to send them invite on Facebook or by mail and receive tokens as you are helping to grow our community. If your family/friends or business partners do not like to join, there’s still a possibility to add their address, bind it with your phone book and settle everything in DARB wallet. Our focus is to develop the healthy community but we do not want to bind people to the full stack of our services. We want to provide
13
services of the highest quality, so good, that people will join by themselves.
■ Not tied to exchange We want to deliver. A lot of blockchain projects promising great technology will keep you waiting for years. We want to deliver, not set promises. Therefore to provide the fully operational platform the DARB wallet starts with our Darb Finance exchange but won’t finish like that. We are discussing with other cryptocurrency exchanges the possibilities of 2 step integration with our wallet. The idea is to provide the best possible rates on the market - not only region - for our users.
■ Available as a browser plugin To provide fluent integration and best possible user experience, you won’t have to switch to the web or mobile application if you want to make the fast transfer. The DARB wallet will be available also as the browser extension.
■ Ability to export to a cold wallet As we stated before, security is our cornerstone. Having that in mind if users want to keep their assets off the system, we will provide cold wallet export: - the ability to export assets to a cold wallet that’s generated and saved only on user phone or drive (depends on where user will export). - for such cold wallet only user will have private and public key, exported to separate file - an exported wallet can be imported anytime to THE DARB wallet
■ Enterprise-grade wallet Personal funds are one thing. But what about corporate accounts? As economy will move out from FIATs we want to provide a solution for companies as well. That’s why DARB wallet will provide multi-signature wallets. We will provide services for payments, processing, treasury management, risk, compliance, logistics, B2B and B2C applications. We aim to empower businesses to work with digital currency easily at scale alongside its other currencies.
○ Portfolio manager ■ Monitor your progress
Portfolio will integrate your coin- and token based holdings, give you investing and risk-management tools, investment advice to secure your assets while making sure you have the petty cash to spend as you like. Track your entire portfolio in one place, get a detailed price and market information. You will be able to monitor your progress for daily, weekly, monthly and yearly intervals. This will allow you to adjust your strategy and seize the
14
opportunities.
■ Teach others and yourself - Social Trading Whatever if you already have the working strategy or want to know one, we will provide the possibility for such. If the user will see that the value of the portfolio is rising and will like to share the strategy with others,the user can always set portfolio percentage moves as available for other users, who will be able to see it by paying in tokens to the owner of the portfolio. We find this way great both for sharing the knowledge and as great system that allow new players feel how investing in the market should look like. To help choose new traders the right person to learn from, application will share a leaderboard where the users who shared their portfolio will be evaluated by portfolio gains and losses. This way the best teachers reveal.
○ DARB Academy ■ Coin Basics
To choose the right asset from the great number of possibilities, we provide a unified view with KPIs for each currency and token that will be available on Darb Finance exchange and wallet. This will allow new users to get familiar with each product's capabilities.
■ Tutorials To make learning curve smooth, we are providing the tutorial with short videos that explain all the features and good practices in trading and investing.
■ Podcasts & webinars We want to make everyone familiar with what’s going on in blockchain and cryptocurrency world. In order to do so, we will provide weekly webinars and monthly podcasts with people who have a great experience with the technology to keep user's finger on the pulse. Users will be able to hear first-hand information.
○ Customer Service In addition to the technology stack, Darb Finance is built with service in mind. Darb Finance shares support responsibilities across the entire staff and company. When a user has a problem, they get an answer directly from someone who knows the system, not someone reading a script. This attitude allows us to respond quickly and with GREAT precision to solve the issues at the spot.
○ Language support Our international multilingual team has extensive working experience in North America, Europe and Asia, and we are able to smoothly support the global market. As for now, our exchange supports 8 langues:
● English
15
● Spain ● German ● Russian ● Chinese ● Korean ● Japanese ● Polish
and we will extend this list in the coming days.
○ Availability All of the above will be available in application for:
■ Web (all modern browsers) + extension
■ Desktop (OS X, Windows, Linux)
■ Mobile (Android 4.4+, iOS 11.4.1)
■ REST API
VII. The DARB Token With the rapid expansion of the cryptocurrency trade and exponential growth in the size and scale of the cryptocurrency market, opportunities continue to appear in the field of investment. DARB Tokens are Utility Tokens that give the trader an incentive of sharing the revenue produced by Darb Finance, on daily basis. The fact that crypto market cap is hitting 500b ($2 Trillion in 2018), makes us at DARB elated and hopeful about huge shared revenue with thousands of traders and investors around the world. The native utility token for this system, the DARB, is an ERC233 token on the Ethereum blockchain. Why ERC233 - it is the best secured and stable version of a token as so far. It will be a unit of value within our system and gas for our decentralized platform. 200 000 000 DARB token that will be issued as an incentive for the user base and as an asset that will help to set the course of platform development by its users. Token will be available in every DARB platform service and will be tradeable with the pair to ETH. Distribution is based on Proof of trade (PoT).
VIII. Proof of trade Every time trade is made at the DARB platform, the smart contract grants DARB tokens to both MAKER and TAKER* based on trade amount. 6 7
TAKER receives 35% of tokens from trade MAKER receives 65% of tokens from trade
6 Maker fees are paid when you add liquidity to our order book by placing a limit order below the ticker price for buy, and above the ticker price for sell. 7 Taker fees are paid when you remove liquidity from our order book by placing any order that is executed against an order on the order book.
16
To ensure that token will not fall for hyperinflation we use similar approach to the one known in crypto-industry - increasing difficulty for mining. The more mature platform is, the less tokens it grants per amount of trade. As we are aiming into long-term sustainability in our economy, the PoT is based on 7 Milestones which differ in amount of the tokens that will be mineable, difficulty and additional features it enables. Proof of trade starts on Milestone I:
- there are 10% of total available DARB tokens to be mined in this milestone - this means that Milestone I will end after those 10% will be mined - during this Milestone, Darb Finance will distribute 35% of revenue across token
owners - Milestone I have the lowest difficulty which means you will be able to obtain
the most DARB tokens each trade than in any other Milestone after - the revenue share for the coins you have mined day A, is distributed on A+1
(eg. DARB mined on January 1st, will entitle to rev. share on January 2nd calculations)
As listed in table below, Darb Finance will increase daily revenue share on specific milestones (III, VI and V) but also difficulty will increase (so amount of tokens mined on each trade will decrease).
Milestone Daily rev. shared % of mined
I 35% 10%
II 35% 25%
III 40% 25%
IV 45% 15%
V 50% 10%
VI 50% 10%
VII 50% 5%
17
Chart 1.1. Token distribution in Milestones
Chart 1.2. Amount of shared revenue (%) per Milestones
18
Chart 1.3. Difficulty in time
Chart 1.4. Amount of DARB tokens mined per €1000 traded
19
In addition, along with Milestone 2, DARB platform will enable DARB-ETH trading pair.
Example:
- User A trades with User B assets worth €5 000 - User A is TAKER, User B is MAKER - Trade generated 81.25 DARB - User A receives 28,4725 DARB (81.25 * 35%) - User B receives 52,8775 DARB (81.25 * 65%)
Darb Finance have daily volume of €700 000 000 (TOP1 exchange generates around $1 352 628 007 daily volume)
Each day between €490 000 and €700 000 (depends on the Milestone)is distributed among token DARB token holders. Calculations: (for 5 000 DARB owned, assuming Milestone I, 35% rev. share)
24h Volume Revenue for user per day Revenue for user per year
€300 000 000 €10.21 €3 726.65
€600 000 000 €15 €5 475
€1 000 000 000 €21 €7 665
€1 300 000 000 €27.26 €9 949.9
(for 5 000 DARB owned, assuming Milestone V, 50% rev. share)
24h Volume Revenue for user per day Revenue for user per year
€300 000 000 €15.32 €5 551.65
€600 000 000 €24.16 €8 818.4
€1 000 000 000 €32.93 €12 019.45
€1 300 000 000 €40.36 €14 731.4
Summary: - The sooner you have joined, the more tokens you receive per trade - The more people come to use the platform, the more you earn - Each next Milestone, your revenue is increasing due to increased difficulty -
new trades generate less tokens but revenue share is the same or even bigger (up to 50%!)
20
Pro tip: - Trade a lot as soon as possible to get cheap and easy DARB - Invite your friends to increase the platform volume - Earn money as platform grows!
Check out interactive income calculator at www.darbfinance.com. With the platform development, we intend to provide more ways of obtaining tokens as incentive for platform activities.
IX. What does the DARB Token Do? We do believe in transparency. We also know that it’s the community that makes the platform great (would you use Facebook if there would be no users?). That’s why we want to create this platform with you. The DARB token will be used across the platform to provide the incentives for all users in order to discover the platform features.
■ Revenue sharing Every day at midnight platform is going to distribute 35% to 50% (depends on Milestone) of its daily revenue in ETH among token holders. The more tokens the user holds the more share he/she will get. Once acquired, tokens entitle the user to daily giveaway.
■ Poll Community polls are available for everyone. We do care about what would you like to see on the platform. In the end, we want to create the platform which meets our customers' expectations . For all the users who hold DARB token, there will be a multiplayer of vote strength.
■ Advisory board Top 50 users who own the biggest amount of DARB tokens will be invited to private slack as Advisory Board and will help with evaluating new ideas and testing newly developed features as the first feedback loop. The board will be in close contact with DARB team. The list will be updated on a monthly basis.
■ Support and KYC priority line We are aware that user support is the key and we reassure you that we put the great deal of effort to provide the best possible helpdesk team and a quickest possible response time. For all our supporters we gather the separate team that will be focused only on clients who are holders
21
of DARB token.
■ Following / Sharing portfolio If users decide to share their portfolio (only percentage values are shown) and the moves they are performing, they will be able to collect fees from users who would like to follow the moves. The fees will be collected in the specific amount of DARB token (as subscription) or in one-time payment model in ETH or BTC and transfer to portfolio owner. During the subscription period, the DARB tokens are generating revenue for the portfolio owner but after subscription cancels, the DARB tokens goes back to the original owner (ex-follower).
■ Gas for the decentralized exchange We love blockchain, but in our opinion DEXes (as for now) are not a good solution because the available solutions are too slow while asset markets can change in seconds. The current state of blockchain technology does not allow us to create a decentralized exchange, that has the same speed, reliability, and easy access as the one that’s off-chain. No wonder that top crypto exchanges are still on-chain. This is going to change. We will make our attempts. For starters, we are looking at saving our trade history in the NEO chain. We focus on our main priorities: security, reliability and speed. When we will succeed, and we will, DARB token will be used as one of the key base assets as well as gas to be spent.
X. Financials ○ Revenue Model
DARB’s revenue will come mostly from the following sources:
Source Description
Exchange Fee Darb initially will charge a 0.2% fixed fee per trade for TAKER and 0.05% per MAKER. Other variations will be subsequently introduced, including maker-taker, volumed based tiering and 0 fee promotions. We have no plan to charge above 0.2%.
Withdrawal Fee Darb may charge a small competitive fee for withdrawals.
Listing Fee Darb will select innovative coins and other assets to be listed on the exchange, there may be a fee associated with those listings. We are aiming into choosing most promising assets and technology and list it on the exchange.
22
Margin Fee There may be a fee or interest on the borrowed amount.
Futures Contracts There may be a fee or interest on the contract amount.
Finance Instruments Darb will introduce more advanced financial instruments into our ecosystem.
○ Transparency We will put all progress on our website and update it once a month. Our Telegram is open - feel free to come ask questions.
XI. Timeline All times below are Greenwich Mean Time (GMT).
○ Proof of trade schedule The Proof of trade came to life starting 14.12.2018 at 12:00 AM. From the date onwards, each trade grant tokens.
Token amount 200 000 000 DARB
GMT 14.12.2018 12:00 AM
○ What we have now ICO is related to the prospect product, where a Proof of Concept (PoC) or
Minimal Viable Product (MVP ) are not really required. It is essential to 8
have these confirmed in order to provide the customer with a reliable
piece of information
8 MVP is a product with just enough features to satisfy early customers, and to provide feedback for future product development. Gathering insights from an MVP is often less expensive than developing a product with more features, which increases costs and risk if the product fails, for example, due to incorrect assumptions. The term was coined and defined by Frank Robinson about 2001, and popularized by Steve Blank and Eric Ries It may also involve carrying out market analysis beforehand.
23
We have decided to do it the right way. To come with the working project and only then ask for your support, feedback and new feature requests, as the application should always fit users needs. What we have now, is secure, stable and one of the fastest exchanges ever made. Almost everything you can find in VI.1 chapter is done already. Features awaiting to be released are: - Converting small amounts to ETH - available from 01.08.2019 - Margin trading - consulted with MFSA. We came forward with the first product, the foundation of what we are aiming to do, and now, we are asking for your aid to create a gateway for all the people around the world into the blockchain world.
24
○ Timelines
Date Milestone Features
Q1-Q4 2018 Phase I ● Obtaining the MTR licenses both for exchange and wallets
● Official platform launch. Darb Finance exchange available (web app)
● Proof of Trade Launch ● REST API available
Q1 2019 Phase II ● Web multichain wallet service available ● Web portfolio service available ● Enterprise grade wallet available ● DARB Academy
○ Coin Basics ○ Tutorials (YouTube)
● Darb KYC - fully automated KYC service
Q2 2019 Phase III ● Darb Pay - Universal payment gateway that accepts both CRYPTO and FIAT currencies
Q3 2019 Phase IV ● Darb Mobile - mobile applications of DARB platform available on Android and iOS
● Darb Accelerator - IEO program for project which will reach top score in Darb evaluation
Q4 2019 Phase V ● Darb Dust - mechanism for converting dust from cryptos into ETH
Q1 2020 Phase VI ● EMI License - successful acquisition allow provide wider range of financial services
● Physical payment terminal for both crypto and FIAT
● Social trading - Functionality to learn from top investors. The ability to track and analyze movements of experience successful market veterans
Q2 2020 Phase VII ● Darb Academy - Podcasts and webinars ● Darb Bank - merged FIAT financial
system with cryptocurrencies into global financial solution with: ○ Own dedicated IBAN ○ Physical & Virtual cards
XII. About Bizzarria Bizzaria is a corporation based in St. Julian's, Malta, Tallinn and Warsaw, Poland. It was funded by a group of skilled enthusiasts that believe in innovation and spreading decentralized technology around the world. Our aim is to introduce products that will provide regular people with access to the crypto-asset world and also share knowledge on this type of financial instruments and blockchain. We truly believe, that
25
getting people actively involved, discussing, making agile decisions as we go, that is the key to provide innovation. We expect to run internship programs, awarding grants, run pro-bono projects, create educational materials, sponsor or run events, work with the city and national governments and to partner companies and institutions to spread the principles and tools of decentralization around the world. The DARB project is our flagship one. We are particularly proud and we hope the implementation will improve the availability of crypto-assets and blockchain technology to a group of recipients. We are here to change the world!
○ Culture No matter how successful the project will be, we will always adhere to our guiding principles:
■ HOW matters.
■ Stay lean - we won’t be granting each other’s and our employees fat salaries, that will be above standards and not adjusted to performed tasks, we do not plan to set up any fancy offices, instead we want to set up a dorm for people to sleep in when they come to work with us.
■ Work in the same room as much as possible - staying in the same room will improve vibe of the team and create perfect conditions for everyday brainstorming sessions, it will also be coherent with our lean policy.
■ Take care of each other, build a family culture - we want to create a company, where everyone feels comfortable and has a space to improve his/or her skills.
■ Be close to customers - we do not want to be a distant, unfriendly, mysterious institution. We would like to be close to our customers and develop great communication with them.
■ Measure everything, try new things, learn what works - by measuring we will see in which fields we need improvement, by trying new things we can apply changes to processes that will result in providing better services.
■ Continuous delivery in one-week cycles. Keep the code working - we do not plan to have stops in delivery of new things, non-stop work of the code will move us forward.
■ Continuous improvement - make things better every day - progress is done by small steps that are taken every single day
■ Use Kanban - make Kanban your religion and thus create joy at work - by using Kanban planning system we will have everything in order and under total control, whereas our employees will spend exactly the needed amount fn time to complete the given task, no less and no
26
more
■ Invite everyone to join us. Our community is our foundation - we are open to everyone, we value fresh ideas which are always brought by new members.
■ Give to the crypto community. We plan to give research grants, do free events, publish, and more - we want to spread knowledge and give away the good things, we won’t be a selfish institution.
■ Communicate, communicate, communicate. Do not underestimate what it takes to get people to learn and try something new. Our model is that of a hive, with people doing what they love to do and focusing together on solving tough problems by providing excellent solutions for the market. Join us.
○ Advisors & Partners
The following people have committed to support the DARB project with
their time, energy, and network. We are thankful to all the people who
have offered to help us.
■ Piotr Gałka - attorney at law, member of the District Chamber of Legal Advisors. He specializes in new technology law and transformation processes. He advises his clients with respect to investment processes, including blockchain fundraising, and supports them in strategy building and business models with respect to innovative projects. Expert in blockchain technology projects including implementation of DLT technology in corporations, setting up cryptocurrency exchanges and preparation of ICOs. He gained experience as an in-house lawyer in Inovo VC fund, investment house of mBank and during cooperation with DZP and Maruta law firm.
■ Yao Song - has 10 years experience in Global Business Operation and Marketing Strategy while she lives in UK and Poland. Created 2 successful start-ups in her early age in China during her study. With multi-lingual, multi-cultural background, she owns great knowledge about business between China and Europe. Yao worked as Head of Business Operation in Top Gaming company and Crypto Exchange in Poland, supported few Blockchain projects and executed one of the top 20 ICOs in 2017.
■ Marek Trebka - Graduate of the Cass Business School in London. Expert in the exchange traded-products and the market structure. Currently working as a product strategy consultant for a number of brokers and fintechs across Europe. Previously an operations manager at the systematic hedge fund, a trader, ETF Market-Maker, a risk manager and the proprietary trading desk. Began his career in the financial industry at the London office of Deutsche Boerse.
27
■ Value Finance - provides CFO as a Service for technology companies. In a light and flexible way we help companies: precisely calculate the profitability of projects and employees, safely manage the cash flow and efficiently plan the future of the company.
■ SSW Solutions - a leading Polish Law Office specializing in blockchain and crypto assets, combining knowledge, passion and professionalism to provide services adjusted to clients’ business needs. It advises clients in terms of developing, implementing strategies together with providing them legal compliance services at every step of the process. The company is a member of TAGLaw, thanks to which it has access to global know-how and a global network of contacts of the best lawyers and law firms. It enables providing services in over 85 countries, in 150 offices around the world. The Law Office was recognized by international rankings and law periodicals, such as Chambers and Partners, The Legal 500 and IFLR1000.
■ Kancelaria Skarbiec - a leading Polish Law Office specializing in international solutions. The Office is provider of high quality, complex strategies of protecting assets and managing crisis situations in companies. The Law Office’s main specialization is the creation of comprehensive legal and tax strategies under both Polish and international law. It represents entrepreneurs in proceedings before tax authorities and Administrative Courts of all instances, protects entrepreneurs against lawlessness of bureaucratic procedures and aggressive fiscalization.Value Finance - a group of financial experts, forming a Polish advisory company, who build banks and multiple other international businesses. Their main tasks are to advise, monitor, analyze, raport, forecast and take care of clients’ financial matters. Using great know-how and experience, financial experts aid clients in growing their businesses.
■ F-secure - a leading international corporation that specializes in security in the Internet and has been providing holistic cyber security solutions for both individual houses and enterprises. It has a vast experience and is driven by innovation. F-secure offers point protection as well as detection and response. It protects enterprises and consumers against advanced cyber attacks, data breaches, as well as widespread ransomware infections. The company was founded in 1988 and has over 20 offices around the globe. F-Secure is listed at NASDAQ OMX, Helsinki.
■ MFSA - The Malta Financial Services Authority (MFSA) is the sole regulator for all financial services activities taking place in Malta. It’s main role is to regulate, supervise credit and financial institutions, investment, trust and insurance businesses. It also maintains the Malta’s Companies Registry. The MFSA actions, among others, includes issuing of guidance notes, monitoring local and international developments and co-operating with relevant parties on legislative matters. The Authority also stands for high standards of compliance
28
and play a major role in training
■ Blonde2.0.- an award-winning PR agency with offices in Boston and Tel Aviv, but operating globally. It provides PR services, media relations services, thought leadership, analytics and measurements of PR campaigns’ effectiveness, help in setting up crowdfunding campaigns and more. Its team is composed of over 35 professionals that have know-howe and experience in PR, which makes blonde 2.0 a leading globally-renowned provider of all PR things for blockchain and crypto entities, startups,especially tech ones, enterprises, and VCs.
○ Customer Council We welcome senior executives from any companies, or other people with great experience in fintech to help with blockchain and cryptocurrency adoption. We would like to discuss the strategic direction of this project and seek advice on the business priorities. We are actively looking for council members, so please join us, if you feel like you can be useful and our project’s goals seem interesting to you.
29